Business Transition Planning
Women in Transition
Five Star Wealth Advisor
Jeff is a Wealth Advisor based in the Richmond, VA office of The Colony Group. He utilizes a goals based planning approach emphasizing tax efficiency, cash flow management, risk mitigation, philanthropic planning, and investment management. Jeff is a CERTIFIED FINANCIAL PLANNER™ practitioner and a Chartered Life Underwriter®.
Prior to joining The Colony Group, Jeff worked for Northwestern Mutual where he provided financial planning services for a wide array of client needs including education, insurance, tax, investment and estate planning. Prior to Northwestern Mutual, Jeff worked at LPL Financial where he delivered investment and asset allocation guidance for client portfolios.
Jeff volunteers his time doing pro bono work for CancerLinc providing financial advice for families that have been affected by cancer. Jeff also mentors students from Christopher Newport University looking to pursue a career in the financial services industry.
Jeff graduated, magna cum laude, from the Pamplin College of Business at Virginia Tech, where he earned his Bachelor of Science in Finance. Jeff earned his Certificate in Financial Planning from The College for Financial Planning. In his spare time, Jeff enjoys spending time with his wife and 2 children, as well as spending time with friends on the golf course.
"We usually tell our clients to wait until late February or even March to file," said Jeff Donham. Many must wait on tax statements or other documents in order to file an accurate return by April 15 or extend.
"Withdrawals from 401(k) funds typically are taxable, which could push you to a higher tax bracket, and you’ll be losing the opportunity for your money to grow," says Jeff Donham CFP®, CLU® of The Colony Group in The Wall Street Journal article, Refinancing-or Paying Off-a Mortgage? Questions to Ask Yourself. “You’re really robbing Peter to pay Paul in that situation."
Here's a quick tip to jump-start your emergency savings, "Create shorter-term goals. If $3,000 is one month of expenses, set a goal to try to save 5% to 10% of that amount a month or break it up into weekly deposits," says Jeff Donham CFP®, CLU®, Wealth Advisor of The Colony Group.
Another way to save money for a rainy day is to "Get a credit card that pays points that can be converted to cash. Then deposit that cash into your emergency savings," says Patrick Donnelly, CFP®, Vice President & Senior Wealth Advisor of The Colony Group.
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